For future reference. Full link here - http://www.btimes.com.my/Current_News/BTIMES/Tuesday/Latest/20080701174516/Article/index_html
SapuraCrest bidding for RM7b jobs
SAPURACREST Petroleum Bhd is bidding for oil and services jobs worth between RM6 billion and RM7 billion, comprising 70 per cent local and 30 per cent overseas.
(Seng comment: Looks like Sapcres is relying to secure more local jobs than overseas.)
Its chief executive vice-chairman, Datuk Shahril Shamsuddin, confirmed that one of the local jobs was the Gemusut deepwater exploration but declined to disclose the value.
He, however, said it expected to know the outcome by year-end.
(Seng comment: A lot of things can happen by year-end. E.g. markets can fall or rise, causing all boats to fall or rise.)
The oil and gas services provider already has presence in India, Australia, Indonesia, Thailand, Cambodia, Myanmar and Vietnam, he told reporters after the company’s annual general meeting today.
Its current order book of RM5 billion will last for about 30 months.
(Seng comment: This is a decent order book size, but much depends on the margins. At 5%/10%/20% net margins, it translates to $250M/$500M/$1 Billion. If past net of tax margins are any indication, then, it's not a pretty picture since it is closer to $250M, which is small relative to its market capitalization including warrants of around $1.7 Billion.)
The order book includes RM3 billion three-year extension to an on-going contract with Petronas Carigali Sdn Bhd and the RM600 million contract from Murphy Oil Co Ltd for the Kikeh project in Sabah.
(Seng comment: I know nuts about actual specific detailed oil and gas business, but these to me seem like decent trophy names of clients for Sapcres - Petronas and Murphy Oil, although you probably can't read too much into it.)
Others include RM500 million regional contract from Carigali-PTTEPI Operating Company Sdn Bhd and a RM200 million one-year extension to an on-going contract with Exxon Mobil Exploration and Production Malaysia Inc.
Meanwhile, its chief executive officer, Izzet Ishak, said overseas operations contributed up to 30 per cent to the company’s revenue now.
“We hope to increase it to 50 per cent in two years and maintain it,” he said. — Bernama